Kinder Morgan Energy Partners LP (FRA:KM7) EBIT : €2,969 Mil (TTM As of Sep. 2014)

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What is Kinder Morgan Energy Partners LP EBIT?

Kinder Morgan Energy Partners LP's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2014 was €901 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2014 was €2,969 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Kinder Morgan Energy Partners LP's annualized ROC % for the quarter that ended in Sep. 2014 was 10.49%. Kinder Morgan Energy Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 16.12%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Kinder Morgan Energy Partners LP's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 8.00%.

Kinder Morgan Energy Partners LP EBIT Historical Data

The historical data trend for Kinder Morgan Energy Partners LP's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Kinder Morgan Energy Partners LP EBIT Chart

Kinder Morgan Energy Partners LP Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

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1,199.47

1,413.19

1,404.56

2,067.31

2,357.17

Kinder Morgan Energy Partners LP Quarterly Data
	Sep09	Dec09	Mar10	Jun10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
EBIT	Get a 7-Day Free Trial															648.52	713.21	674.56	680.06	900.94

Competitive Comparison of Kinder Morgan Energy Partners LP's EBIT

For the Oil & Gas Midstream subindustry, Kinder Morgan Energy Partners LP's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Kinder Morgan Energy Partners LP's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Kinder Morgan Energy Partners LP's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Kinder Morgan Energy Partners LP's EV-to-EBIT falls into.

Kinder Morgan Energy Partners LP EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Sep. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,969 Mil.

Kinder Morgan Energy Partners LP (FRA:KM7) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Kinder Morgan Energy Partners LP's annualized ROC % for the quarter that ended in Sep. 2014 is calculated as:

	ROC % (Q: Sep. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Sep. 2014 ))	/ count )
=	3603.744 * ( 1 - 2.4% )	/	( (32513.536	+	34529.672)	/ 2 )
=	3517.254144	/	33521.604
=	10.49 %

where

	Invested Capital		(Q: Jun. 2014 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	32789.536	-	1761.248	-	( 193.568	-	max(0, 3339.968	-	1854.72	+	193.568	))
=	32513.536

	Invested Capital		(Q: Sep. 2014 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	35183.84	-	1738.24	-	( 207.968	-	max(0, 3089.256	-	2005.184	+	207.968	))
=	34529.672

Note: The Operating Income data used here is four times the quarterly (Sep. 2014) data.

2. Joel Greenblatt's definition of Return on Capital:

Kinder Morgan Energy Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Sep. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3603.744	/	( ( (21553.76 + max(-694.784, 0))	+	(23157.392 + max(-547.856, 0)) )	/	2 )
=	3603.744	/	( ( 21553.76	+	23157.392 )	/	2 )
=	3603.744	/	22355.576
=	16.12 %

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1063.52	+	312.064	+	285.568)	-	(1761.248	+	0	+	594.688)
=	-694.784

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1155.464	+	330.576	+	311.176)	-	(1738.24	+	0	+	606.832)
=	-547.856

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2014) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Kinder Morgan Energy Partners LP's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2014 )
	=	2968.769	/	37107.499
	=	8.00 %

Kinder Morgan Energy Partners LP EBIT Related Terms

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Kinder Morgan Energy Partners LP (FRA:KM7) Business Description

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Address

Website

http://www.kindermorgan.com

Kinder Morgan Energy Partners LP is a Delaware limited partnership formed in August 1992. The Company is engaged in pipeline transportation and energy storage company in North America. They own an interest in or operate approximately 52,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and its terminals store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. They are also the producer and transporter of CO2, for enhanced oil recovery projects in North America. Its operations are conducted through our five operating limited partnerships and their subsidiaries and are grouped into five reportable business segments: Natural Gas Pipelinesâ€”consists of approximately 40,000 miles of natural gas transmission pipelines and gathering lines, plus natural gas storage, treating and processing facilities, through which natural gas is gathered, transported, stored, treated, processed and sold; O2â€”which produces, markets and transports, through approximately 1,500 miles of pipelines, CO2 to oil fields that use CO2 to increase production of oil; owns interests in and/or operate four primary oil fields in West Texas; and owns and operates a 450-mile crude oil pipeline system in West Texas; Products Pipelinesâ€”consists of approximately 9,000 miles of refined petroleum products and crude oil and condensate pipelines that deliver refined petroleum products (gasoline, diesel fuel and jet fuel), NGL, crude oil, condensate and bio-fuels to various markets; plus approximately 62 associated product terminals and petroleum pipeline transmix processing facilities serving customers across the U.S.; Terminalsâ€”consists of approximately 122 owned or operated liquids and bulk terminal facilities and approximately 10 rail transloading and materials handling facilities located throughout the U.S. and portions of Canada, which together transload, store and deliver a wide variety of bulk, petroleum, petrochemical and other liquids products for customers across the U.S. and Canada; and Kinder Morgan Canadaâ€”transports crude oil and refined petroleum products through approximately 800 miles of pipelines from Alberta, Canada to marketing terminals and refineries in British Columbia and the state of Washington; plus five associated product terminal facilities. The Company's business operations are subject to federal, state, provincial and local laws and regulations relating to environmental protection, pollution and human health and safety in the U.S. and Canada.

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